Calif. man gets prison over fraud in Neb., Wash.

Posted by administrator | 25/07/11 | Tagged Credit Card

Calif. man gets prison over fraud in Neb., Wash.
News from Sacramento Bee:

A California man has been ordered to serve 51 months in prison for using stolen credit card numbers in Nebraska and Washington.

The U.S. Attorney’s Office in Omaha says 45-year-old Siddiq Talib, who also goes by Von Wilson, of Van Nuys, Calif., was sentenced Friday in federal court for credit card and bank fraud. He was also ordered to pay more than $ 180,000 in restitution.

The office says Talib flew to Omaha in July 2009 to use the numbers stolen from customers of Wells Fargo Bank and Royal Bank of Scotland Citizen Bank. He made purchases at various locations in Omaha and Lincoln.

Authorities say Talib made similar purchases in the Seattle area. The sentence also covers those crimes.

…………… continues on Sacramento Bee
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Credit card companies use bonuses to woo new customers
News from East Valley Tribune:

How would you like $ 200 cash, four free nights at a Marriott or two free round-trip flights to California just for signing up for a credit card?

Bonus offers on credit cards have never been juicier, said founder Curtis Arnold, who has followed the industry for about 10 years.

Arnold said he was “blown away” recently by an offer he received — and quickly snapped up — for the American Express Business Gold rewards card. He’ll get $ 500 in gift cards if he charges $ 2,000 in the first three months, plus the card’s $ 125 annual fee is waived for the first year.

With credit card defaults easing and the reforms ushered in by the credit card act behind them, card issuers are going after customers with new vigor.

Overall, credit card soli…………… continues on East Valley Tribune
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A push for more proof in debt-collection lawsuits

Posted by administrator | 25/07/11 | Tagged Credit Card Debt

A push for more proof in debt-collection lawsuits
News from Baltimore Sun:

Marquis Jones doesn’t believe she owes money on a credit-card account that a debt-buying company sued to collect from her.

More importantly, though, the firm never proved she did.

But because the Severn woman wasn’t given notice of the lawsuit — the company’s process server claimed her nonexistent “wife” accepted the summons — she wasn’t in court to point this out. So an Anne Arundel County judge approved a $ 992 judgment against her last fall.

The scene has been repeated in courtrooms throughout Maryland and across the country. Companies that buy past-due consumer debts and sue to collect have won judgments against Marylanders even though, advocates and regulators say, the documentation to prove those cases often has been very thin.

“This is a $ 100 billion-dollar-a-year industry … the sale of ‘accounts receivable,’ ” said Peter A. Holland, who runs a
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Individuals spending beyond means faster than government
News from Dayton Daily News:
Updated 10:20 PM Sunday, July 24, 2011

By Randy Tucker

Staff Writer

Americans criticize government leaders for running up the federal budget deficit, but do they practice what they preach?

Not really.

Individuals are living beyond their means at an even greater rate than the government, based on recently released household debt figures.

U.S. household debt totaled $ 13.4 trillion at the end of 2010, or about 107 percent of the $ 12.5 trillion Americans earned in total household income last year, according to the Federal Reserve.

The government’s total debt of $ 13.8 trillion represented about 94 percent of the $ 14.7 trillion in national income, or Gross Domestic Product (GDP), last year.

“You hear people say that the government should manage its finances like the private sector does, but that’s the problem,’’ said James Brock, an economics professor at Miami University.

Brock said household debt bu…………… continues on Dayton Daily News
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